Monday, July 21, 2008

Luxury Condo Homes for $140,000 in Richmond, CA!

Area Snapshot
The Shores at Marina Bay in Richmond is literally located at the edge of the San Francisco Bay. If you like to live next to a waterfront and enjoy the sea breeze, this might be a nice area for you. The community is just minutes away from Highway 580 and 80. It's about 30-60 minutes from San Francisco. But it could take up to 90 minutes to get to Silicon Valley with traffic.

Public Transportation
Amtrak (Richmond Station by Kaiser)
BART (Richmond Station by Kaiser)
AC Transit
Ferry

Attractions
Marine World
Napa Valley's Wine Country
San Pablo Lytton Casino (5 miles)

Neighborhood Walkability
Walk Score: 32/100. This is a relatively low walk score for this community which means that you'll need a car most of the time to get to grocery stores, coffee shops, schools, and restaurants.

Target Stores: 1.68 miles
Subways: 0.94 miles
Starbucks: 1.69 miles
Century 16 movie theater: 4.97 miles
Kaiser Hospital: 0.84 miles
Barnes and Noble: 2.52 miles
Home Depot: 1.71 miles
Safeway: 1.79 miles

Schools
Coronado Elementary School (API score: 755)
Stege Elementary School (API score: 652)
Kappa Continuation High School (API score: 462)

Crime Rate
FBI report (2007) shows that Richmond topped the state with the highest per-capita homicide rate of cities with at least 100,000 people. Richmond had 47 homicides in 2007 — the most in this decade.

For more crime statistics for Richmond, go to http://www.cityrating.com/


Neighborhood Statistics
Median Sales Price: $280,000
Average Price per Sqft: $287

For more stats and trends, go to http://www.trulia.com/

Auction Pricing and HOA Fee

Starting bid for 1 Bed, 1 Bath 500 sq. ft. unit is $140,000.
Starting bid for 2 Bed, 2 Bath 922 sq. ft unit is $255,000.
HOA Fee: $231 - $331.

Community Review
I like the scenic waterfront area. I could sit outside all day and enjoy the smooth calming sounds of the Bay. But the problem is that the community is fairly close to the freeways and train tracks. So homeowners will have to deal with some unwanted noise.

Families with children may be concerned with the low school scores. Visit the schools and find out if the environment is best suited for your kids. The other option is to send your kids to a private school which could be costly.

There is a casino nearby. And depending if you have kids or not, the close proximity of the casino should be a factor when considering to purchase a home in this area. More likely than not, the casino could be a contributing factor to Richmond's high crime rate which is the highest in the California. The high crime rate makes me a little nervous and should be a concern for all residents here.

Bottom line? This community could be ideal for retirement, but is definitely not suitable for families with children.

What do you think of Marina Bay or Richmond in general?

Community Location
The Shores at Marina Bay
One Shoreline Court
Richmond, California 94804
Phone: 510.231.8980
(Google Maps)

Auction Info
1PM Sunday, August 17, 2008
The Doubletree Hotel & Executive Meeting Center
200 Marina Blvd.
Berkeley, California 94710
Phone: 510.548.7920

From the Kennedy Wilson website
"High, room-expanding ceilings and large windows set the tone for the open-style residences, accentuated with cozy fireplaces, contemporary gourmet kitchens and relaxing private decks and patios offering pleasurable views of their attractive surroundings. Versatile floor plans offering 1 to 2 bedrooms and up to 2 full baths provide a highly satisfying living experience. Whether soaking your cares away in one of the community's two swimming pools or the heated spa, pursuing a healthy workout at the onsite fitness club or socializing with friends in the community clubhouse, you will always have the luxury of an entertaining choice."

Go to http://www.kwiauctions.com for more details.




Gourmet Kitchen Breakfast Nook